Financial Scams and Security 60

Terraform Labs Files Lawsuit Against Citadel Securities Over Alleged Manipulation of Terra’s UST Stablecoin

Terraform Labs, the company behind the Terra blockchain ecosystem, has filed a lawsuit against Citadel Securities, accusing the market-making giant of manipulating Terra’s UST stablecoin. The lawsuit alleges that Citadel Securities deliberately caused the UST stablecoin to deviate from its $1 peg, resulting in significant losses for Terra. Contrary to popular belief, Terraform Labs argues […]

FTX Customers to Recover Majority of Missing Assets in Proposed Settlement

After conducting thorough investigations, it has been revealed that a significant amount of funds is missing from FTX customer assets. In response to this, FTX Trading Ltd and its associated debtors have proposed a settlement that would result in the majority of lost crypto and financial assets being refunded to customers.The proposed settlement, which is […]

Binance.US Updates Terms of Service, Discontinues Direct USD Withdrawals

Cryptocurrency exchange Binance.US has made changes to its terms of service, indicating that direct withdrawals in USD are no longer supported on the platform. The updated terms state that users can convert their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts. This change has caused concern […]

Rise in Traditional Banking Scams Signals Shift in Fraud Tactics in Ireland

Scam artists in Ireland are shifting their focus from cryptocurrency scams to targeting traditional banking customers, according to the Irish Independent. With a decline in cryptocurrency scams due to the bear market, fraudsters are now posing as representatives of reputable British banks or trading firms to exploit the trust and vulnerability of unsuspecting banking customers. […]

Ethereum Co-Founder Vitalik Buterin’s Recent Transfer Sparks Speculation and Interest in Crypto Community

Vitalik Buterin, the co-founder of Ethereum, has made a significant transfer of 3,000 Ether, worth around $4.95 million, to a new wallet address. This move has sparked speculation within the crypto community, as Buterin has not publicly explained the reasons behind the transfer. However, historical data shows that Buterin’s previous large transactions have had an […]

Bankrupt Crypto Exchange FTX Proposes 90% Return of Creditor Holdings

Bankrupt cryptocurrency exchange FTX has proposed a plan to return up to 90% of the funds held by creditors before its collapse in November. The plan, which will be filed with a U.S. bankruptcy court by December 16, states that customers with a preference settlement of less than $250,000 can accept the settlement without any […]

New Malware Spreading Through Binance Smart Chain Contracts Targets WordPress Websites

Cybercriminals have found a new method to spread malware by exploiting BNB Smart Chain (BSC) smart contracts. This technique, known as ‘EtherHiding,’ involves compromising WordPress websites and injecting code that retrieves partial payloads from blockchain contracts. The attackers hide these payloads in Binance smart contracts, using them as anonymous hosting platforms. They can update the […]

Terraform Labs Accuses Citadel Securities of Deliberately Destabilizing Stablecoin, Leading to its Demise

In a recent development, Terraform Labs, a defunct crypto network, has accused Citadel Securities of intentionally destabilizing its stablecoin, TerraUSD classic (USTC), leading to its downfall in 2022. Terraform Labs has filed a document in a US District Court, requesting Citadel Securities to produce documents related to its trading activities during the time when USTC […]

FTX Founder Sam Bankman-Fried Faces Trial for Alleged $200 Million Financial Scam and Bribery Attempt

In a sensational trial that has captivated the crypto world, Sam Bankman-Fried, the founder of FTX, is facing charges of orchestrating a massive fraud. The prosecution alleges that Bankman-Fried was fully aware of the illicit activities taking place within his exchange and hedge fund, Alameda Research. However, his defense argues that he was simply an […]

FTX Founder Sam Bankman-Fried Faces Trial Amidst Shocking Revelations of Deception and Misappropriation

Oh, what a heartwarming tale of morality and virtue we have here. Gather ’round, folks, as we dive into the heartwarming saga of FTX stock exchange and its founder, the beacon of ethical excellence, Sam Bankman-Fried.In the grand city of New York, Caroline Ellison has come to testify about the bankruptcy of FTX. Shocking revelations […]